Energy Ministry renews Chemanol’s feedstock allocation

Methanol Chemicals Co. (Chemanol) obtained on, Dec. 24, the Ministry of Energy's approval for renewing feedstock allocations for some specialty petrochemical products. The Ministry had previously approved the said allocations in Dec. 2023.

 

In a statement to Tadawul, the company said relevant updates will be duly revealed.

 

 

In May, Chemanol signed an agreement with Jubail and Yanbu Industrial Cities Services Company (JABEEN) to allocate a land plot in the PlasChem Park in Jubail (2) to establish and operate a Choline Chloride and Methyl Diethanolamine Methane plant with an estimated investment of over SAR 420 million.

 

Chemanol aims to become one of the largest manufacturers of specialized petrochemical products in the Middle East.

 

It also indicated that all products from these projects will be the first of their kind in the region and will be used in several vital and strategic industries, such as oil and gas, pharmaceuticals, fertilizers, construction materials, fuel additives, harmful gas extraction, and carbon capture as well as storage technologies.

 

Chemanol announced in December 2023 that the Ministry of Energy approved the allocation of feedstock required for the production of methyl diethanolamine, choline chloride, dimethyl disulfide, and n-methyl-2-pyrrolidone, data available on Argaam showed.